United States Gasoline Fund (NYSEARCA:UGA) Stock Price Down 2.7% – Time to Sell?

United States Gasoline Fund LP (NYSEARCA:UGA) shares fell 2.7% during trading on Monday . The stock traded as low as $61.14 and last traded at $61.40. 10,391 shares changed hands during trading, a decline of 70% from the average session volume of 34,258 shares. The stock had previously closed at $63.11.

United States Gasoline Fund Stock Performance

The firm has a 50-day simple moving average of $61.59 and a 200 day simple moving average of $63.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UGA. Comerica Bank purchased a new position in shares of United States Gasoline Fund in the 1st quarter valued at approximately $44,000. Rosenberg Matthew Hamilton purchased a new position in shares of United States Gasoline Fund in the 3rd quarter valued at approximately $48,000. Park Avenue Securities LLC purchased a new position in shares of United States Gasoline Fund in the 3rd quarter valued at approximately $204,000. MML Investors Services LLC grew its stake in shares of United States Gasoline Fund by 7.4% in the 3rd quarter. MML Investors Services LLC now owns 6,566 shares of the company’s stock valued at $384,000 after purchasing an additional 453 shares during the last quarter. Finally, Roman Butler Fullerton & Co. grew its stake in shares of United States Gasoline Fund by 18.2% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 6,619 shares of the company’s stock valued at $449,000 after purchasing an additional 1,018 shares during the last quarter.

United States Gasoline Fund Company Profile

United States Gasoline Fund, LP (UGA) is a commodity pool that issues limited partnership interests (shares). The Company is engaged in the trading of futures contracts, options on futures contracts and cleared swaps (derivatives). The investment objective of UGA is for the daily changes in percentage terms of its shares’ per share net asset value to reflect the daily changes in percentage terms of the spot price of gasoline, as measured by the daily changes in the price of the futures contract for gasoline traded on the New York Mercantile Exchange (the NYMEX), that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire, less UGA’s expenses.